1759 Thornapple Circle, Valparaiso, IN 46385 (219)531-1111 Goal Setting Extravaganza: You have now completed the Business Assessment Questionnaire and ready to tackle goal setting. As we talked about in Commandment #1 of The 10 Commandments to Real Estate Sales Success the most important factor to this program is YOU! Inside the 1 st Commandment I shared with you the three things that, if mastered and implemented into your life will catapult you to living a life of happiness and freedom. The 3 things are: 1. Goals 2. Mindset 3. Choices We will now go through a goal setting process that will provide clarity and focus in your life and business. The first step is to determine your Top 10 List. The Top 10 List, is simply a list of the goals you feel are the most important to you right now. The list can be made up from any of goal setting categories we mentioned in Commandment #1. In the 1 st Commandment we listed 8 goal categories. The categories are: 1. Family 2. Financial 3. Business 1
4. Physical 5. Mental 6. Spiritual 7. Relationships 8. Lifestyle In this exercise I want to help you condense time and get right into the most important to work on, right now. This is a personal development course but more specifically it s a real estate sales course. So for this exercise I want you to focus on your business goals. Keeping in mind that this exact exercise can be applied directly to each and every goal category that you have. Now, put all distraction aside and focus on your business goals. Make a list of your current Top 10 Business Goals. Examples: Earn $100,000 in the next 12 months Implement an expired listing prospecting and marketing campaign Develop lead generation pillars that produce 200 leads per month Hire my first assistant Hire my first buyers agent Hire a 3 rd buyers agent Work less than 40 hours per week Sell 50 homes next year Implement a printed newsletter to be delivered to my database Purchase and implement a call capture system (like Proquest Technologies) This is your goal list. Take time and complete it now. Section 1: Top 10 Business Goals 1. 2. 3. 4. 2
5. 6. 7. 8. 9. 10. Congratulations! You are well on your way to dramatically improving your life and your business! Now that you have your Top 10 List, it s time to arrange them in order of importance. Review each goal now and label them 1 through 10 with 1 being the most important. Now you have your Game-Changer Goals. These three goals will be at the top of your list until each one is accomplished or implemented. You will start with #1 and work on it until it s accomplished or implemented into your business. If your #1 goal is an income goal you will work to drive it s result with your targets, Now Goals, and daily activities that we will breakdown in just a moment. Obviously as you are working to accomplish an income goal, you will also work on any other Game Changer goals as you go along. Next, list your Game Changer Goals. List them in order of importance. Section 2: Game-Changer Goals 1. 2. 3. 3
You will now list each Game-Changer Goal on the 1-3-5 Goal Sheet. Section 3: 1-3-5 Goal 1-3 - 5 Goal! Directions: Mix one clearly defined goal with three solid reasons why you want to achieve it. Toss in five specific actions you will take along with target dates for completion and you ll have a starting formula. 1. Goal Write the goal in specific, measurable, and time bound language 3. Why s Identify and prioritize three reasons why you want to achieve this goal. 1. Actions List five specific actions and target dates to achieve this goal. 4
1-3 - 5 Goal! Directions: Mix one clearly defined goal with three solid reasons why you want to achieve it. Toss in five specific actions you will take along with target dates for completion and you ll have a starting formula. 2. Goal Write the goal in specific, measurable, and time bound language 4. Why s Identify and prioritize three reasons why you want to achieve this goal. 2. Actions List five specific actions and target dates to achieve this goal. Now take massive action to make your goals a reality! 5
1-3 - 5 Goal! Directions: Mix one clearly defined goal with three solid reasons why you want to achieve it. Toss in five specific actions you will take along with target dates for completion and you ll have a starting formula. 3. Goal Write the goal in specific, measurable, and time bound language 5. Why s Identify and prioritize three reasons why you want to achieve this goal. 3. Actions List five specific actions and target dates to achieve this goal. Now take massive action to make your goals a reality! 6
Ok! This is shaping up nicely! You have your Top 10 Business Goals. You have your 3 Game-Changer Goals. And you have committed the Game-Changer goals to the 1-3-5 worksheet. Next you will determine an income goal if you haven t already. The income goal will be based on how much money you want to earn from this business over the course of the next 12 months. To determine your income goal we will need a quick recap of some of the information that you provided in the Business Assessment Questionnaire. Please complete this section now. Section 4: Income Goal My average sales price is: My average commission (in dollars) per transaction is: I have a total of people in my database. My income goal for the next 12 months is: Based on my income goal, my average sales price, and average commission per transaction, I ve determined that I need to close transaction in order to meet my goal. Now let s break it down using the Income Freedom Formula! 7
Section 5: Income Freedom Formula In the process of building my business and then working with agents on my team I ve created a formula that delivers results when applied to your income goal. The formula is simple. After you ve determined your income goal, average sales price, average commission earned, and the number of transactions needed to accomplish your goal we can now apply the Income Freedom Formula. You take your transaction goal, subtract it by your database conversion forecast, and then multiply it by.49. I know it sounds complicated but it s not at all! Here s an example: You have 100 people in your database (that you are applying proper communication to). Our formula states that you can expect a 10% transaction conversion from a properly communicated to database. So 100 people in your database should produce 10 transactions per year. In this example you have an average sales price of $200,000. And an average commission per transaction of $6,000. We ll also say that your income goal for the year is $125,000. Therefore we know that you will need 21 transaction to reach your goal. You take 21 subtract 10 (from the database) leaving 11 transaction for you to produce outside of your database. You then take 11 and multiply it by.49, which equals 5.39. I always recommend you round this number up to the next number. So now you re at 6. Six represents the number of people you will need to talk to every day (based on a 5 day work week) along with proper communication to your database in order to reach your income goal of $125,000. It s that simple! In section 4 you determined how many people are in your database and how many transaction you will need to reach your goal. Please complete the Income Freedom Formula Questions Now: I will close transaction to reach my income goal. 8
I have people in my database. I will produce at least transaction from my database (database total multiplied by 10%) That leaves me with producing transactions outside of my database. Taking that number of transactions and multiplying it by.49 = people I need to talk with each day (based on a 5 day work week). Section 6: Daily Activities If you followed the Quick Start Guide included in this program and hopefully you did! Then this is the order you are consuming the content: 1. Read the Quick Start Guide 2. Complete the Business Assessment Questionnaire 3. Read the Book: The 10 Commandments of Real Estate Sales Success 4. Listen to the Audio CD s: The 10 Commandments of Real Estate Sales Success 5. Complete the Goal Setting Extravaganza (you are here, lol) 6. Read the Book: The 10 Commandments of Real Estate Lead Generation 7. Listen to the Audio CD s: The 10 Commandments of Real Estate Lead Generation. 8. Open Binder 1: Bonuses and Awesomeness 9. Open Binder 2: Business Building Blueprint Vol. 1 10. Open Binder 3: Business Building Blueprint Vol. 2 11. And so on, and so forth My point is, aside from the emphasis on please follow the Quick Start Guide that you have already heard me reveal THE SECRET to real estate sales success. The secret which was revealed at the end of the 10 Commandments Success book is Daily Activities. You also read and heard some examples of how to set up your Daily Activity Tracker. 9
Now it s time to go through the exercise of producing it! Your daily activities that you will keep track of are your Targets. Your weekly goals based on your Targets, are your Now Goals and your Income Goal is your Later Goal. Your Targets are Daily Your Now Goals are Weekly (and MUST be Predictive of and Influeneable by you in driving the result of the Later Goal). Your Later Goal is (in this exercise) your Income Goal. It s always a: This to That by Then goal. Example: I will increase my income from $75,000 to $100,000 by December 31 st. I m just going to show you an example of a Daily Activity Tracker that I have one of my agents using in his business. And then you will simply fill out the blank one that follows. On the next page you will find an example of the daily activity tracker used by one of my team members. 10
Daily Activity Tracker Date: Goals: 20 Calls per day Total Goal Dials: 20 100 per week Live Answers: 7 35 per week Calling time: 60 300 minutes/week Sphere calls: 1 5 per week Hand Written Notes: 3 15 per week FSBO Emails: 5 25 per week Lead Emails: 5 25 per week Referral network emails: 1 5 per week Add to Database: 1 5 per week Face to face meetings: 0.8 4 per week Listing Appointments: 0.4 2 per week Buyer Appointments: 0.4 2 per wk Potential deals(good calls) 1 5 per week Referrals received: 0.2 1 per week On the next page you will find a blank activity tracker. Please fill it out to the best of your ability and start using it immediately in your business. What gets tracked and measured gets improved! People perform better when they are keeping score. Start keeping score NOW! You will likely want to take the ideas from the tracking sheet and create your own personalized edition. Please do so immediately! 11
Daily Activity Tracker Date: Goals: Total Goal Week Dials: Live Answers: Calling time: Sphere calls: Hand Written Notes: FSBO Emails: Lead Emails: Referral network emails: Add to Database: Face to face meetings: Listing Appointments: Buyer Appointments: Potential deals(good calls) Referrals received: The second column is used to record the number of calls and live answers. We simply use hash marks to keep track and then record the total at the end of the day. Next you will again answer The One Thing 12
Section 7: The One Thing! In the Business Assessment Questionnaire at the end you answered this question: What is the One Thing that you feel you need help with that once accomplished or implemented into your business you know will better your life? Now I will ask you again. The reason I ask again, is because many people I ve worked with change their answer at this point. So please indulge me and consider your answer. If it s the same as it was for the assessment questionnaire, that s perfectly fine. Things to consider: This One Thing can be anything that I can help you with. It can be broad, like: Focus, or Lead Generation, or Systems. It can be specific: Detailed hourly time-blocking, or Expired Marketing Campaign, or Building and Implementing an Affinity Group marketing plan just for local Teachers. Whatever it is please think it over! The One Thing is: Thank you very much for completing the Goal Setting Extravaganza! Please email me a copy now to: bart@bartsellshouses.com I look forward to reading it and more importantly I look forward to doing everything in my power to help you reach your goals especially The One Thing!!! 13